Shiller ‘FINE’ with his Son Buying a Home
In a recent interview on CNBC’s ‘Squawk Box’, Robert Shiller, Nobel Prize-winning economist and founder of the Case Shiller Price Index, discussed today’s housing market in a rather personal way. Shiller first commented that he believes "Ther...
FreddieMac: Housing is Stronger Today
In a recent blog post, FreddieMac explained that “housing is stronger today than at any point since the Great Recession began and hit bottom in 2009”. They then gave three reasons which support their position: Home sales are up 13% since their lo...
Gallup Poll: Real Estate Best Long Term Investment
The Gallup organization just released their April Economy and Personal Finances Poll which asked Americans to choose the best option for long term investment. It was no surprise to us that real estate returned to the top position over other investmen...
Homeownership Cost in the Top 25 US Cities [INFOGRAPHIC]
The State of Hispanic Homeownership
This month the National Association of Hispanic Real Estate Professionals (NAHREP) released their annual State of Hispanic Homeownership Report for 2013. A 35 page report designed to highlight “the homeownership growth and household formation rates of Hispanics as well as their educational achievements, entrepreneurial endeavors, labor force profile, and purchasing power in the United States”. This report is full of great information and you should download it and read all 35 pages. In this blog post, I will mention a few facts that, in my opinion, are relevant to all of us: Household formation
- Since 2010, Hispanics have accounted for a net increase of 559,000 owner households, representing 56 percent of the total net growth of owner households in the U.S.
- The number of Hispanic households has grown from 9.2 million in 2000 to 14.7 million in 2013, an increase of 5.5 million, representing a growth rate of 60 percent.
- Four out of 10 new households between 2010 and 2020 are expected to be Hispanic.
- By the end of the decade, Hispanics alone will account for approximately five million net new households, out of an estimated 12 to 14 million net new households in the country.
- The median age of the Hispanic population is 27 years old, which is ten years younger than the median age of the overall U.S. population.
- Hispanics are heavily represented in the 26 to 46 year age range.
- A Hispanic youth turns 18 every minute of every day.
- Hispanics with incomes between $50,000 and $100,000 represent 29 percent of all Hispanic households and comprise nearly 40 percent of Hispanic purchasing power.
- Three out of every four prosperous Hispanics are under the age of 45 and own a home.
- Twenty-two percent of all Hispanic households earn more than $75,000 annually.
- The number of Hispanic-owned businesses in the U.S. nearly doubled from more than a decade ago, growing from 1.7 million in 2002 to an estimated 3.2 million in 2013.
- Latina entrepreneurs are launching businesses at a rate SIX TIMES the national average.
- Hispanic businesses contribute in excess of $465 billion to the nation’s economy annually and employ more than two million workers.
- Latinos now own one out of every 20 businesses in the U.S., while Latinas own 10 percent of all women-owned businesses.
12,575 Houses Sold Yesterday!
If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes t...
With Rates & Prices on the Rise, Do You Know the True Cost of Waiting?
There is a great opportunity that exists now for Millennials who are willing and able to purchase a home NOW... Here are a couple other ways to look at the cost of waiting. Let’s say you're 30 and your dream house costs $250,000 today, at 4.41% yo...
Either Way, You’re Still Paying a Mortgage
There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with our parents rent free, you are paying a mortgage - either your mortga...
A Snapshot of Homeowners [INFOGRAPHIC]
Real Estate: This Spring Will Be Different
Just like May flowers, every spring the housing market blossoms as buyers come out ready to purchase their dream house. This spring, we believe we are going to see the strongest purchasing market we have seen in a decade. Why are we so bullish on the housing market this spring? Here are a few reasons:
MILLENNIALSContrary to many reports, this age demographic is READY, WILLING and ABLE to become homeowners. As a matter of fact, the latest National Association of Realtors’ gender study revealed that the Millennial generation has recently accounted for a greater percentage of all buyers than any other generation.
BABY BOOMERSAs prices have risen, so has the equity in many homes across American. Homeowners, having been shackled to their house because of low or negative equity for the last several years, are again free to make a move without worrying about bringing cash to a closing table in order to sell. We believe this new-found freedom will release a pent-up demand of sellers who want to move-up to the home they’ve always dreamed of or want to downsize their primary residence and also purchase a second home they can use for vacation, retirement or both.
BOTH PRICES and MORTGAGE RATES are on the RISEAs the economy improves, more and more Americans are regaining faith that their own personal finances are headed in a positive direction. With this new confidence, they want to take advantage of the opportunity that presents itself with real estate still undervalued in most parts of the country and mortgage rates being well below historic numbers. If you are a professional in the industry and want to learn how to leverage this opportunity and optimize your business during this spring’s real estate market, you can watch a FREE replay of our most recent webinar, Spring Ahead in 2014: KCM’s Action Plan for Dominating this Buyers’ Season.
Real Estate: We are NOT the Only Ones Saying You Should Buy
We have never hid our belief in homeownership. That does not mean we think EVERYONE should run out and buy a house. However, if a person or family is ready, willing and able to purchase a home, we believe that owning is much better than renting. And ...
Thinking of Buying a Vacation/ Retirement Home? Why Wait?
The sales of vacation homes skyrocketed last year. A recent study also revealed that 25% of those surveyed said they’d likely buy a second home, such as a vacation or beach house, to use during retirement. For many Baby Boomers, the idea of finally p...
Want to Sell Your House? Price it Right!
The housing market is recovering nicely. Prices have increased nationally by double digits over the last twelve months. Competition from the shadow inventory of lower priced distressed properties (foreclosures and short sales) is diminishing rapidly....
Belief in Homeownership [INFOGRAPHIC]
Vacation Home Property Sales Surge
The American desire to own a second home as a vacation home is alive and well! The National Association of Realtors analysis of U.S. Census Bureau data shows there are approximately 8 million vacation homes in the U.S. Their 2014 Investment and Vaca...
Homeownership’s Impact on Net Worth
Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. A study by the ...
3 Reasons to Sell Your Home this Spring
Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are th...
A Home’s Cost vs. Price Explained
We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concer...
Millennials: Texting About Buying A Home [INFOGRAPHIC]
Millennials & Income
Today, Justin DeCesare returns as our guest blogger. Justin is the CEO of Middleton & Associates Real Estate in La Jolla, CA. - The KCM Crew Millennials have become an important topic of discussion for media outlets and blogs throughout the C...
Hispanic Millennials & Housing
Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials. Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most raciall...
Who Says Millennials Are Not Buying Houses?
We have often gone against the grain to promote the fact that Millennials have a stronger belief in homeownership than previous generations. Some have strongly disagreed. Well, a new study from the National Association of Realtors (NAR) found Millenn...